Inventory and recon
What is dealer-only auction?
A dealer-only auction is a wholesale marketplace open to licensed dealers, where most independent lots buy inventory.
Access requires a dealer license and registration with the auction. Buy fees stack on the hammer price and vary by sale price band, so the true cost of a car is never the number on the block.
Arbitration rights are limited and time-boxed. Announcements, condition reports and the sale light govern what you can dispute, and the windows are short.
Handle this automatically
Loturn tracks every cost against the VIN and shows live profit on every car, with real dealer accounting built in.
Related terms
Wholesale
Wholesale is dealer-to-dealer trade, usually through an auction, as opposed to retail selling to a consumer.
ACV
ACV is what a vehicle is genuinely worth to you today at wholesale, and it is the number a trade should be booked at, whatever the customer was shown.
Front gross
Front gross is the profit on the vehicle itself: sale price minus total vehicle cost minus pack, before any financing or product income.
General information for US dealers, not legal advice. Rules change and vary by state, so confirm specifics with your state agency or counsel.